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The Art Business and VAT/TAX?

  • 26-02-2007 7:54am
    #1
    cormie
    Registered Users, Registered Users 2 Posts: 20,844 ✭✭✭✭


    Hi,
    Could somebody clear up the whole Art business with regards VAT and employment please?

    If I was to have a website selling hand drawn, original art for 1K a piece on average and employ 2 people paying them 800 a week for example, what would I need to pay the government and what would my employees need to pay?

    What if the artist was just on their own, self employed, earning 40K+ a year from their work? What VAT and tax would they need to pay?

    Any feedback appreciated:)


Comments

  • #2
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,815 ✭✭✭antoinolachtnai


    Sounds like a reasonable sized business, so I guess you'd have to pay employer's prsi, VAT at 21 percent and no income tax if you can avail of the artist's exemption.

    Your employees would have to pay income tax and prsi, and you would have to collect it from them. Amount depends on whether they are maried, etc.

    This is just the basics, you really need to visit the accountant on this.

    Antoin.


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